New York State Common Retirement Fund cut its stake in shares of Trip.com Group Limited (NASDAQ:TCOM – Free Report) by 14.4% in the 4th quarter, Holdings Channel reports. The institutional investor owned 980,416 shares of the company’s stock after selling 165,447 shares during the quarter. New York State Common Retirement Fund’s holdings in Trip.com Group were worth $67,315,000 at the end of the most recent quarter.
Several other institutional investors also recently made changes to their positions in TCOM. CWM LLC grew its stake in shares of Trip.com Group by 10.4% during the 3rd quarter. CWM LLC now owns 2,327 shares of the company’s stock valued at $138,000 after buying an additional 220 shares during the period. Creative Planning lifted its holdings in shares of Trip.com Group by 1.7% during the 3rd quarter. Creative Planning now owns 25,622 shares of the company’s stock valued at $1,523,000 after acquiring an additional 423 shares in the last quarter. Blue Trust Inc. lifted its holdings in shares of Trip.com Group by 64.0% during the 3rd quarter. Blue Trust Inc. now owns 7,545 shares of the company’s stock valued at $448,000 after acquiring an additional 2,944 shares in the last quarter. Raymond James & Associates lifted its holdings in shares of Trip.com Group by 9.1% during the 3rd quarter. Raymond James & Associates now owns 40,998 shares of the company’s stock valued at $2,437,000 after acquiring an additional 3,425 shares in the last quarter. Finally, Whittier Trust Co. lifted its holdings in shares of Trip.com Group by 70.2% during the 3rd quarter. Whittier Trust Co. now owns 18,981 shares of the company’s stock valued at $1,128,000 after acquiring an additional 7,826 shares in the last quarter. 35.41% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities analysts recently weighed in on TCOM shares. Sanford C. Bernstein started coverage on shares of Trip.com Group in a report on Monday, November 4th. They set an “outperform” rating and a $85.00 target price on the stock. Mizuho lifted their target price on shares of Trip.com Group from $65.00 to $78.00 and gave the company an “outperform” rating in a report on Tuesday, November 12th. Citigroup boosted their price objective on shares of Trip.com Group from $73.00 to $78.00 and gave the stock a “buy” rating in a report on Friday, January 3rd. Macquarie boosted their price objective on shares of Trip.com Group from $75.40 to $80.80 and gave the stock an “outperform” rating in a report on Wednesday, November 20th. Finally, Hsbc Global Res upgraded shares of Trip.com Group from a “hold” rating to a “strong-buy” rating in a report on Tuesday, November 19th. Eleven investment analysts have rated the stock with a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $74.78.
Trip.com Group Stock Performance
Shares of Trip.com Group stock opened at $66.68 on Thursday. The firm has a market cap of $42.95 billion, a PE ratio of 19.96, a price-to-earnings-growth ratio of 0.70 and a beta of 0.37. The firm’s 50-day simple moving average is $69.05 and its 200-day simple moving average is $60.90. The company has a debt-to-equity ratio of 0.14, a quick ratio of 1.42 and a current ratio of 1.42. Trip.com Group Limited has a 1 year low of $38.23 and a 1 year high of $77.18.
Trip.com Group Company Profile
Trip.com Group Limited, through its subsidiaries, operates as a travel service provider for accommodation reservation, transportation ticketing, packaged tours and in-destination, corporate travel management, and other travel-related services in China and internationally. The company acts as an agent for hotel-related transactions and selling air tickets, as well as provides train, long-distance bus, and ferry tickets; travel insurance products, such as flight delay, air accident, and baggage loss coverage; and air-ticket delivery, online check-in and seat selection, express security screening, real-time flight status tracker, and airport VIP lounge services.
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